UCP 600
Post 12 of 16
Replying to [Catalyst]:
Quoting UCP 600, article 6.(a):
" A credit must state the bank with which it is available or whether it is available with any bank. A credit available with a nominated bank is also available with the issuing bank."
Thus, even if a credit is restricted or made available by the issuing bank with any particular bank, it is ALWAYS available with the issuing bank. The beneficiary can always present, within the validity of the credit, his complying documents to the issuing bank for payment.
Quoting UCP 600, article 6.(a):
" A credit must state the bank with which it is available or whether it is available with any bank. A credit available with a nominated bank is also available with the issuing bank."
Thus, even if a credit is restricted or made available by the issuing bank with any particular bank, it is ALWAYS available with the issuing bank. The beneficiary can always present, within the validity of the credit, his complying documents to the issuing bank for payment.
25 Dec 2007 19:32
Post 15 of 16
Replying to [Catalyst]:
UCP 600 is much better than the old version UCP500
both i know little anyway
UCP 600 is much better than the old version UCP500
both i know little anyway
15 Feb 2008 00:43
Post 16 of 16
Replying to [Catalyst]:
I agree with you. Unfortunately, like the bikini, the articles manage to hide the vital parts quite well.
"Both i know little anyway" - if you DID, I'd be out of a job and MVPs!![[em3]](http://img.alibaba.com/images/eng/style/icon/emoticons_grin.gif)
I agree with you. Unfortunately, like the bikini, the articles manage to hide the vital parts quite well.
"Both i know little anyway" - if you DID, I'd be out of a job and MVPs!
19 Feb 2008 04:58